Nuveen Real Estate acquires modern pharmaceuticals distribution centre in Hamm, Germany
Nuveen Real Estate has acquired a modern distribution centre in Hamm, for its European logistics platform.
The cross-dock distribution centre, which was built in 2020, is leased to a leading pharmaceutical logistics company and provides around 9,000 sq m (c97,000 sq ft) of rental space. With two temperature-controlled areas, it enables the storage and shipping of special goods, particularly medicines. The tenant therefore mainly serves customers in the pharmaceutical goods sector from the asset and aims to supply more than 15,000 pharmacies in the coming years.
Christian Sliwa, Investment Manager at Nuveen Real Estate, says: “Against the backdrop of the ongoing pandemic, the need for storage and distribution of medicines and vaccines has led to increased demand for high-quality logistics properties. The distribution centre in Hamm is therefore an important strategic addition to our portfolio, so we can aim to help our clients to benefit from these structural tailwinds. The special equipment and prime location of the property underline its long-term potential. Added to this is the long-term lease to a market leader, which we believe will help to ensure strong returns for our investors going forward."
The Eastern Ruhr region is one of the most important logistics locations in Germany. With connections to motorways as well as to the European rail network of combined freight transport, it offers good conditions for logistics hubs. Retailers and wholesalers in particular use the region for their central and regional distribution centres due to its strategically favourable location.
Nuveen’s logistics AUM in Germany now sits at over EUR1 billion.
Nuveen was advised by Linklaters (legal), EY (tax), Orange Recon (technical) as well as Nova-Ambiente and TheGreenBlue (environmental). DSH GmbH acted as broker.